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>Richard Davidson wrote:
>
>> My question is the fill that I got is it a good fill by the CME rules or
>> should I fight my broker for a better one. I have already been told that
the
>> fill is good and I will not get a better one. I[s] there still uptick and
>> downtick rules on fills.
>
>Dear Richard,
>
>Regarding the purported "uptick and downtick rules", I telephoned officials
at
>the CBOT and the CME several months ago in order to verify if these rules
>exist. Surprise! What I was told was that they don't and never did. The
rule
>re fills is that in a normal market, the broker is held to a reasonable
standard
>(what a reasonable person would expect under all the circumstances); and in
a
>fast market, the broker is not held to any standard (you take what you get
>without recourse).
>
>I am sorry that you received an adverse fill and hope that you have had
others
>that balance this one out.
The problem is they never (very rarely) error in customer's favor. So,
unfortunately, you'll never balance out an adverse fill with an advantageous
fill. The best fill you can hope for is one at your price. On occassion I've
received +0.20 points in my favor. But I get hammered for 1-3 points on a
"Fast Market Day". Ever wonder why it takes soooo long to get a fill back on
a "Fast Day"? Poor guys in the pit need to take care of themselves. Think
of you slippage as charity for the hard working traders in the pit. ha ha ha
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